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WallStInvestor@xxxxxxx wrote:
>
> Hello Omega-List subscribers,
>
> My name is Michael Christian,
> my voice mail pager #1-888-605-4821
> my e-mail address is: WallStInvestor@xxxxxxx
>
> I am a new Prosuite 2000i novice user from NY. Have had the program for about
> 5 months, went to OmegaWorld, trying to learn as much as I can. Purchased
> great 1000mhz (Dual P3 500 mgz) Dell 4 monitor system using real time BMI
> Satellite data. Have OR Radarsceen on 1 monitor, Tradestation charts on
> another, RediPlus (SLK) execution on 3rd and Netscape up on 4th (usually
> scanning stock related boomarks and AOL).
>
> Have had some difficulties....
>
> To give you some idea of where I'm coming from, here are some questions I've
> posted on the STAD forum:
>
> Question #1: Is it unrealistic for me to truly expect systems or indicators,
> from Omega or elsewhere to provide me with methods as stand alones or
> incorporate into systems that I can write myself, to use in the 2000i suite
> to help me generate consistent daily profits. Is 2000i better for long term
> holds? Or since I can set the data compression at 1 tick to 1 year can the
> suite be used for short term? For example, by using Radarscreen, with 4 sorts
> (please recommend) updated every 10 ticks or 1 minute in combination with a
> Tradestation chart or Tracking center alert can I find the best stocks to
> trade and when to trade them?
I am a TS 4.0 (endofday) user. four years and still not successful
yet. I am making some progress toward a system that agrees with me,
however. (Tho not with my current tiny account size :( ) That "old
newbie" status should make you take the blabbing below with a grain of
salt, but I still remember the development process bec. I'm very much
still in it.
I think the major thing is you have to learn trading; no program is
going to teach you that. The indicators by themselves won't. The
systems included with TS, based solely on single technical indicators
lose money, at least on most commodities which is my trading vehicle.
So can you use just the included systems with TS and make money - I
doubt it.
My guess is, that most people end up combining several indicators. A
likely combination is one or two standard ones, plus one or more they
modified themselves, and perhaps one or more they bought from a vendor.
You have to decide what you want to do? Catch trends? Turns? Little
profits more often or big profits once in a while? Timeframe?
Could you buy a system and just plug it in? Probably yes (at least
there's lots available for futures). BUT, you first have to weed out
the bad systems. Then even among the ones that actually make money, you
have to see if they suit you. A lot of the commercial systems have big
drawdowns. Not just that, you may just not like how they work. Maybe
you don't like to buy on strength, but the system buys breakouts. Or
maybe you hate buying on weakness, but the system does that. And you
can almost bet you'll hate the stop. My guess is that even among the
good systems purchased, relatively few people trade them as instructed,
unless they give the system over to a broker, or are a very dedicated
system-oriented trader. So think twice before you plunk down $2000 for
the StockMarket Automatic Teller Machine System.
The big advantage of designing your own system, as I see it, is that it
will almost automatically incorporate your views of the market, and how
you like to trade.
We had a brief thread here some months ago about the learning curve. If
I recall correctly, most indicated it took on the order of years to
learn to trade proficiently. And I think that's not really a function
much of the program you are using.
Conrad Bowers
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